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Huntington Bancshares (HBAN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Huntington Bancshares (HBAN) reported $1.93 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 17.3%. EPS of $0.38 for the same period compares to $0.32 a year ago.

The reported revenue represents a surprise of +1.53% over the Zacks Consensus Estimate of $1.9 billion. With the consensus EPS estimate being $0.37, the EPS surprise was +2.70%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Huntington Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio: 55.6% compared to the 56.44% average estimate based on six analysts.

  • Average Balance - Total earning assets: $169.11 billion versus $166.59 billion estimated by six analysts on average.

  • Net Interest Margin (FTE): 3.4% versus 3.47% estimated by six analysts on average.

  • Net charge-off as a % of average loans and leases: 0.19% versus 0.22% estimated by five analysts on average.

  • Card and payment processing income: $93 million compared to the $94.29 million average estimate based on six analysts.

  • Mortgage Banking Income: $26 million versus the six-analyst average estimate of $22.93 million.

  • Trust and investment management services: $62 million compared to the $60.86 million average estimate based on six analysts.

  • Net Interest Income (FTE): $1.42 billion versus the six-analyst average estimate of $1.43 billion.

  • Service charges on deposit accounts: $83 million versus $81.69 million estimated by six analysts on average.

  • Total Non-Interest Income: $512 million versus the six-analyst average estimate of $472.51 million.

  • Capital markets fees: $59 million versus $75.90 million estimated by five analysts on average.

  • Insurance income: $34 million versus the five-analyst average estimate of $30.63 million.

View all Key Company Metrics for Huntington Bancshares here>>>

Shares of Huntington Bancshares have returned +11.1% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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